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MMCCU to Host Member Appreciation Day and Open Enrollment Event

During the week of October 14, Marshfield Medical Center Credit Union (MMCCU) will celebrate their members in conjunction with International Credit Union Day on October 17.
On Tuesday, October 15, MMCCU is hosting an Open Enrollment Event from Noon – 5:00pm at their West Upham location. Staff will be on hand to answer questions and set up appointments for prospective members.

On Thursday, October 17, MMCCU will offer a free lunch for members from 11:00am-3:00pm.

“The purpose of Open Enrollment Day is to build awareness that the credit union is here for health care personnel and combine that with a fundraiser for October as Breast Cancer Awareness Month,” said President Carol Adler. For each visitor from noon – 5:00pm, MMCCU will donate $5.00 per visitor/member (up to $1,000) for breast cancer research, support, prevention, etc. at Marshfield Clinic Health System (MCHS) Foundation.

MMCCU membership is exclusive to individuals working in the health care field and their families. This includes dentists, nurses, nurse practitioners, pharmacists, chiropractors, appointment coordinators, research, analysts, administrative, home health care providers, physicians, pharmacists, medical technologists, medical assistants, dental crafters, dental hygienists, assisted living providers, health insurance personnel, and more.

The benefits of joining a member-owned cooperative are unique, with a focus on creating a value for members versus generating profit.

“Member-owned cooperative principles means the primary mission is to provide financial services to our members that benefit them by costing less and saving more,” said Adler. “We do not have stockholders who need a monetary return so profit is not our greatest focus.”

“By joining MMCCU, you allow us to provide a personal level of financial service with a comprehensive list of products and programs combined with being a valuable resource for financial education,” said Adler. “The members come first and we are dedicated to the health care affinity group.”

With a vision to stay relevant to their members by evolving to meet their needs – whether through technology, better rates, low fees, or special products, MMCCU aims to always put members first.

“We are grateful to members for their support, especially during our renovation project recently completed,” said Adler. “We invite them to stop in and see the updated building, visit with staff and register to win some super door prizes (must be a member to win a door prize). We will have treats each day with Thursday, October 17 offering lunch from 11:00 AM to 3:00 PM.”

October is National Cybersecurity Awareness Month

October is National Cybersecurity Awareness Month and MMCCU is joining the annual effort to educate about cybersecurity.

“Cybersecurity is an invasion on an individual’s personal information and can lead to financial losses if the information ends up in the wrong person’s hands,” said David Murphy, VP-Finance & Risk at Marshfield Medical Center Credit Union. “In the case of the hundreds of data breaches we’ve experienced, like Experian, Target, or Wendy’s, for example, criminals were able to obtain information ranging from debit/credit card numbers to passwords to personal data, like Social Security Numbers.” 

Criminals can use this information to obtain information about personal accounts or to make changes to accounts in an attempt to facilitate fraud and hide it from the rightful owners. 

“Have you ever had fraudulent charges show up on your credit card or in your checking account?  Many times, this is perpetrated from criminals obtaining your data through a breach,” said Murphy. “Have you ever contacted a merchant to find out they had the wrong phone number and address listed on your account, even though you never requested that information be changed?  This could be a result of criminals obtaining information about you and contacting merchants to make the changes to hide any fraudulent attempts on your accounts.”

Murphy said that MMCCU makes every effort to protect its members, but it is still important for individuals to be aware of steps they can take to protect their own data.
 
“We feel we have a good, personal relationship with our members, and many times, our staff can recognize voices of members calling in based on previous interactions.  However, we still want to make sure we are not giving out your information to the bad guys, so we may ask questions related to you or your accounts with the credit union,” said Murphy. “We don’t always rely on the cookie-cutter questions, like SSN or DOB, however.  We may ask you details about your account that only you should know.  Our goal is to make sure we’re giving out information to the right people.”
 
According to Murphy, social engineering has increased the importance of protecting personal information, like Social Security Numbers, Date of Birth, and Account Numbers. 

“Think about when you call to make changes to an existing set up for cable or have questions on your bill with the local utility company- what kinds of questions are they asking you?  What’s your date of birth?  What’s the last 4 digits of your Social Security Number?  What’s your address?  These are all common items criminals can obtain through Social Engineering,” he said. “What about questions about your pet’s name or your favorite vacation spot?  When you post pictures of your pet on social media or upload pictures of your last vacation spot, criminals now have a means to obtain more personalized information about you simply by the information you share online.”
 
Murphy encourages the use of passphrases in place of less complex passwords, which has been a recent development to encourage users to using unique and complex passwords. Technology allows criminals to hack into accounts simply by guessing passwords or from stealing passwords from one merchant and using it to access an account with another merchant. 

“Do you use the same password for your online banking account and your Facebook account?  If your Facebook password is compromised, the criminal now has your password to access your online banking,” he said.
  
“Attempts from cybercriminals to steal your information is ongoing and doesn’t appear to slow down anytime soon,” said Murphy. “Whether it’s receiving a call from a phone number you do not recognize, receiving an email from a sender you do not recognize or one you are not expecting, you must remain diligent at all times in protecting your data.  If you ever have a question on the legitimacy of a request for data, we’d encourage you to reach out for assistance.  We’re always happy to help members and only want to protect our members and their data”

Earn Chances to Win with Saver’s Sweepstakes Program

What if you could save money while earning chances to win cash at the same time? To encourage its members to build up their savings, Marshfield Medical Center Credit Union is offering a Saver’s Sweepstakes program.

“Nearly 40% of American adults do not have $400 set aside to cover emergency costs or unexpected expenses that may pop up,” said David Murphy, VP-Finance & Risk. “On the flip side, the average American spends nearly $220 on lottery tickets each year. This product looks to address both the spending and savings issues that plague our country.”

The Saver’s Sweepstakes is a savings account that includes the opportunity for MMCCU members to win monthly prizes, a program administered by the Wisconsin Credit Union League.

MMCCU was one of 14 credit unions to first roll out the product in late 2018 after the state passed legislation in 2017 to allow state-chartered financial institutions to offer savings promotion programs. Currently, 29 credit unions offer the Saver’s Sweepstakes product.

The account encourages individuals to build up their savings while at the same time providing a fiscally responsible alternative to playing the lottery or going to the casino.

“Similar to playing lottery tickets, members can use the funds to earn entries into winning cash prizes, but with the Saver’s Sweepstakes account, the member is in a win-win situation: the member has a chance to win cash prizes but also keeps the money in their pocket that normally would be gone if they were spent on lottery tickets,” said Murphy.   

To discourage tapping into these savings, accountholders can only make free withdrawals in October. Otherwise, withdrawals are limited and there are penalties to discourage use of these funds.

Once someone has become a member of the credit union, they can request the Saver’s Sweepstakes program and sign the paperwork to set up the account. Members can make deposits as they wish, whether by setting aside money once a month or by tying it to their payroll.

“Accountholders can choose how many entries they’d like to submit each month based on their deposit activity,” said Murphy. “The best part is each month begins a new contest, so if a member chooses not to make a deposit one month, they can simply start saving the following month, and they would be eligible to earn entries the following month.” 

Entries are earned each time a member makes a $25 deposit into the Saver’s Sweepstakes account, with a maximum of six entries possible each month. The deposits are added up at the end of the month and submitted to the Wisconsin Credit Union League processing center, which compiles deposit data for all credit unions in the state and selects a winner.

Six MMCCU members have won prizes so far, each receiving $100. The pool consists of fifty $100 monthly prizes, four $1,000 quarterly prizes, and one $5,000 prize to be announced in October. A special prize drawing will be held in November for all entries made in the past year. Ten special winners can win $500 just in time for the holidays. 

Marshfield Medical Center Credit Union is a financial cooperative serving nearly 4,000 members. Membership is open to employees in healthcare and their immediate family. MMCCU is federally insured by NCUA. Member eligibility required. For more information, visit www.mmccu.com.  

Marshfield Medical Center Credit Union Celebrates Re-Grand Opening with Ribbon Cutting Ceremony

On September 25, Marshfield Medical Center Credit Union (MMCCU) celebrated the completion of their recent remodel with a ribbon cutting ceremony and re-grand opening gathering, assisted by Marshfield Area Chamber of Commerce and Industry. Dozens of local business leaders, contractors, and MMCCU supporters were in attendance to celebrate the credit union’s most recent accomplishment.
 
“This is another milestone, and we are happy to have it,” said Carol Adler, President. “First, I want to thank all of our members for their support over the 54 years we’ve been operating. We do still have members that are alive and using our services from the original 25.”
 
Adler also thanked the hundreds of Board members that have served as volunteers throughout the decades, the dedicated MMCCU staff, the La Macchia Group in Milwaukee, and other local contractors for the project. 
 
Brooks Burt, Board Chair, also commended the project and those involved.
 
“I want to thank you on behalf of the Board for recognizing that there was a need here and for envisioning this project,” he said. “I want to thank all of the contractors and the project management for their quality work, their planning, coordination, and flexibility which allowed for continuing access to our members. The results are fantastic. It’s a job well done and I just want to thank you very much on behalf of the board.”
 
Matt Eckelberg, MACCI Board President, applauded MMCCU’s efforts and dedication to the Marshfield community. 
 
“We appreciate your renewal of commitment to the City of Marshfield and its citizens,” he said. 
 
MMCCU will host a Member Appreciation Event in October – more details to follow.
 

Evolution of Technology at MMCCU

Technology is a significant part of many industries, and financial services are no exception. Over the course of their nearly 55 years in business, member-owned financial cooperative Marshfield Medical Center Credit Union (MMCCU) has witnessed the evolution of technology in financial services.

President Carol Adler recalls the advent of typewriters as an early significant step for MMCCU.

“At almost 55 years in business, a lot has changed. And, truthfully an automatic typewriter was an major improvement in the day,” she said. “Also, calculators, copy machines, fax machines, as well as numerous improvements in data processing and telecom.”

Significant milestones for MMCCU technology included transitioning to a data center for transaction processing in the early 1980s and adding PC’s in the mid-1980s, which culminated in networks and a massive improvement in productivity.

MMCCU’s remodel earlier this year has introduced a new era of technology to benefit members and the business.

“We installed teller cash recyclers (TCRs) allowing more efficient and accurate cash management, new & improved drive up kiosks with two-way video, and the newest technology for security and telecom – to name some of the newest technology,” said Adler. “We are always researching and exploring additional options.”

The remodel also allows for faster processing times in the lobby and in the drive up.

“Everyone likes things faster but it also improves accuracy,” said Adler, adding that goals of the renovation were to update the building, make significant improvements and complete maintenance items needed – all while creating a new modern feel and comfortable atmosphere for members.

“We are striving to serve the members’ needs by introducing suitable technology for Marshfield – this isn’t a major metropolis and things happen slower here. But we do envision artificial intelligence coming into play in several channels/platforms very soon,” said Adler.

“Our credit union aims to take a responsible approach to growing technology,” added David Murphy, Vice President of Finance & Risk. “As a smaller credit union, we want to make sure every dollar we invest in a new area, such as technology, goes to good use and isn’t wasted.  We may not explore or add every new technology available to us if we don’t think it’ll provide a good value to our members.”

Murphy added that while technology helps MMCCU in how they reach and serve members and their financial needs, the reasons why they serve their members continues to stay the same.

“Technology is ever-changing, but whether it was tracking members account balances on paper back in the old days to allowing real-time access to accounts, balances, and transactions through tablets, laptops, and cell phones, or even through a nationwide network like CO-OP Shared Branching, we always have and will continue to put our members’ needs first,” he said.

Marshfield Medical Center Credit Union Celebrates Children’s Miracle Network Day

On September 11, Marshfield Medical Center Credit Union (MMCCU) staff were dressed more casually than normal – all in support of a good cause.

Credit Unions nationally support Children’s Miracle Network Hospitals as part of the CU for Kids campaign.  Last year, more than 300 credit unions “went casual for kids” and raised thousands of dollars for Children’s Miracle Network Hospitals. 

“Dress down day works by MMCCU employees paying $5 for the privilege of wearing jeans instead of dress clothes,” explained Tabitha Forman, receptionist. “The money collected is donated to Children’s Miracle Network Hospitals to support their programs.”

MMCCU has held “Dress Down Day” for the past several years.
 
“MMCCU feels it is important to support Children’s Miracle Network Hospitals in its endeavors to enhance the comfort of a child’s stay in the hospital,” said Forman. “We have continued our participation as our way of supporting Children’s Miracle Network Hospitals and their programs.”

Thanks to credit unions across the country and the money raised, CMN Hospitals have been able to purchase more life-saving equipment and provide more services resulting in world-class care for sick and injured children throughout the U.S.

History of Marshfield Medical Center Credit Union

Marshfield Medical Center Credit Union (MMCCU) is a closed charter, not-for-profit financial institution dedicated to exclusively serving the financial needs of employees in the medical community and their immediate families, therefore designed to best serve the financial needs of this specific group of people.

Everyone from doctors to chiropractors to dentists can take advantage of what MMCCU has to offer, included savings accounts, health savings accounts, checking accounts that earn dividends, auto loans, financial planning services, surcharge-free ATMs, and more.

Organized on October 21, 1965 under the name “St. Joseph’s Hospital Employee Credit Union,” 75 individuals attended the organizational meeting at St Joseph’s Hospital.

Prior to this meeting, these individuals had submitted an application for charter to the Wisconsin State Bank Department, which subsequently had been approved. The purpose of this meeting was to officially set up the credit union, a task which included the election of a board of directors and a credit committee.

From October 21 to November 3, 1965, 69 individuals applied for membership in the Credit Union. Original membership was restricted to hospital employees and members of their immediate families only. In 1973, membership adopted an amendment to change the name to Marshfield Medical Center Credit Union and to extend members to include all medical personnel and all personnel related to the medical field employed in Marshfield.

In 1985, the Credit Union relocated from within St. Joseph’s Hospital to its own location on St. Joseph’s Ave. At this time, MMCCU added a drive-up window, more parking, and a separate loan office for privacy.

Carol Adler joined MMCCU as President in 1985, a role she continues in to this day. At the time, the credit union held more than $2 million in assets.

“When I was hired, I felt that Marshfield was unique with world class healthcare situation and I was just very excited to be able to lead a credit union that’s emphasis was on personnel working on health care and their families,” she said.

In 1997, MMCCU built what is their current facility at 302 W Upham. At this time, the credit union held more than $14 million in assets, with 4,472 members. In 2003, the building expanded with a 4,200 square ft addition, at which time MMCCU held $30 million in assets with a total membership of 5,305. The new addition celebrated an open house in winter 2004, celebrating an expanded space for staff to better serve customer needs.

Today, as the credit union approaches its 55th anniversary, MMCCU holds close to $70 million in assets.

MMCCU has survived by adapting and listening to its members. One example Adler shared was mortgage lending.

“In those early years, we didn’t have mortgage lending, but we’d get calls all the time about it. I kept telling the board and other staff people there’s a golden opportunity here. People are reaching out to us for these things,” she said. “One of the things we tried to do early on was try to find a solution for that and we did by 1989. I had found out that there was a secondary market of loans and you could originate loans and sell them – therefore not impacting your balance sheet, but offering the service. We found a massive channel and that’s really what drove our growth.”

Other innovations throughout the decades have included expanded services, online banking, a young adult checking account program, vehicle financing, and IRA’s.

“We’ve just grown and continued to grow,” said Adler. “We continually try to add services that our members need.”

MMCCU recently underwent a full interior remodel. An open house and member appreciation event are in the planning stages.